>> Basic Statistics
Really need help with this problem. Please show me how to set it up in the correct steps.
a. Ryan is planning to finance her college education by selling programs at the football games for her team. there is a fixed cost of $400 for printing these programs, and the variable cost is $3. there is also a $1,000 fee that is paid to the university for the right to sell these programs. If Ryan was able to sell programs for $5 each, how many would she have to sell in order to break even?
b. Sales have fallen as a result of the team losing streak and attendance has fallen off. Ryan will only sell 500 programs for the next game. If it was possible to raise the selling price of the program and still sell 500, what would the price have to be for Ryan to break even by selling 500?